Subject Title - INSETA

GENERAL COMPETENCY REQUIREMENTS FOR REPRESENTATIVESPROVIDED THATThe Registrar may exempt representatives from any of the above while theyare working (providing financial service) under supervision.A health service representative must be accredited as a broker or apprenticebroker if services are performed under supervision in terms of the MedicalSchemes Act. 26Once all the qualifications, experience and regulatory examinationrequirements are met, the representative must complete CPD as required.3.3.4 Experience requirements for representativesThe experience required for a representative must be practical – „hands-on‟experience. This means that the representative must have providedadvice/rendered intermediary services in respect of the products and servicesin the subcategories for which he seeks appointment.Difference between general and specific experienceThere are general experience requirements and specific experiencerequirements for representatives. The main differentiating factor betweenthe general experience requirements applicable to all representatives and thespecific requirements, lies in the nature of the products in the differentcategories and the length of experience gained in the preceding five-year (5-year) period.Representatives may obtain the experience while providing financial servicesunder supervision and may therefore be exempted from compliance with therequirements when appointed (subject to the criteria and requirements forservices under supervision).The specific experience requirements in respect of each subcategory arepublished in the subordinate legislation and show the number ofmonths/years, in a table format, required for each subcategory, whereapplicable. (Categories IIA and III do not have tables because of the natureof the business.)26 Section 3(8) of BN 106© INSETA - Section 1 12a 65